Live updates

Marks & Spencer like-for-like sales drop 5.8%

Like-for-like sales in Marks & Spencer's general merchandise division slumped 5.8% in the 13 weeks to December 27, the store has reported.

Marks & Spencer & its worse-than-expected results were exacerbated by online delivery problems. Credit: Stefan Rousseau/PA Wire

The store's worse-than-expected results were exacerbated by online delivery problems over the Christmas period.

M&S says its clothing sector performance was impacted by the unseasonal weather conditions in October and November.

Advertisement

Marks & Spencer's underlying profits up by 2.3%

Marks and Spencer has released its half-year results, revealing its underlying profit before tax has increased by 2.3% to £268 million .

Marks and Spencer has announced its half-year results. Credit: PA Wire

The company blamed a warm September for a 2.3% and 1.6% fall in general merchandise sales and clothing sales respectively.

M&S reported a 1.3% increase in womenswear sales in the first five months of the year, saying it had received "increasingly positive customer feedback".

Marc Bolland, chief executive, said: "M&S delivered sales growth and increased profit in the first half despite a tough market, particularly in September.

"We are pleased with the progress we have made against our key priorities for the year: GM gross margin, improving Womenswear, driving Food growth and Cash generation.”

Advertisement

M&S sales 'underwhelming' as fizz goes out of food

Marks & Spencer's fourth quarter results are "pretty underwhelming", according ITV News' Business Editor Joel Hills.

In full: Marks and Spencer fourth quarter results

Marks and Spencer's fourth quarter 2014 results in full:

  • Group sales: up 1.9%
  • UK: total sales up 1.5%, like-for-like down 0.2%
  • Food: total sales up 2.5%, like-for-like up 0.1%
  • GM: total sales up 0.2%, like-for-like down 0.6%
  • Clothing: total sales up 1.3%, like-for-like down 0.6%
  • M&S.com: up 12.5%
  • International sales: up 4.7%

M&S boss 'encouraged' as clothing sales improve

Marc Bolland has been under pressure to turn around Marks' fortunes in general merchandising. Credit: Reuters

Following the publication of Marks and Spencer's quarterly results, CEO Marc Bolland said he was pleased to see a rise of 0.6% in like-for-like clothing sales.

“We delivered another quarter of improvement in General Merchandise. Clothing sales were up 1.3% in total, up 0.6% on a like-for-like basis. We are encouraged by Womenswear, which is showing clear signs of improvement and performed ahead of Clothing.

“Our Food business had another great quarter, especially considering the later timing of Easter. This marks our 18th consecutive quarter of growth. We continued to outperform the market with record sales around key events including Valentine’s Day and Mother’s Day.”

Marks & Spencer sees fall in like-for-like sales

Marks and Spencer has struggled to turn around the fortunes of its general merchandising division. Credit: Gareth Fuller/PA Wire

Marks & Spencer's total UK sales were down 0.2% on a like-for-like basis in the fourth quarter of 2014, the company has announced.

Group sales were up 1.9%, while like-for-like food sales were down 0.1% and like-for-like general merchandising sales were down 0.6%.

Load more updates